The real interest rate equals the
A) nominal interest rate - inflation rate.
B) nominal interest rate + inflation rate.
C) (nominal interest rate ÷ inflation rate).
D) inflation rate - nominal interest rate.
E) (nominal interest rate + inflation rate) × 100.
A
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Marginal revenue product for labor for any type of firm is
a. the additional revenue that a firm earns when it employs one more unit of labor. b. the additional revenue that a firm earns when it produces one more unit of output. c. the additional cost of employing one more unit of output. d. the difference between the revenue from employing one more unit of labor and the wage rate.
A decrease in the price of inputs will cause the supply curve for a product to shift to the right
Indicate whether the statement is true or false
In an increasing-cost industry, expansion of output
A) causes input prices to rise as demand for them grows. B) leaves input prices constant as input demand grows. C) causes economies of scale to occur. D) occurs under conditions of increasing returns to scale. E) occurs without diminishing marginal product.
Economist Jones defines an increase in supply as a decrease in the prices needed to ensure various amounts of a good being offered for sale. Economist Brown defines an increase in supply as an increase in the amounts that producers will offer at various
possible prices. Economist Cole defines an increase in supply as an increase in the amount firms will offer in the market which is caused by an increase in the price of the product. Which, if any, of these is defining an increase in supply correctly? Please provide the best answer for the statement.